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What Should I Do if an Insurance Company Tries to Lowball Me?

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Getting a settlement offer from an insurance company can be either a huge relief or an even bigger source of stress. When an insurance company offers you a lowball settlement it can feel like a punch to the gut, but don’t worry just yet. There are ways to fight back and get the compensation you deserve. Acquire the services of a New Jersey personal injury lawyer when dealing with a lowball settlement offer.

Why Are They Trying to Lowball Me?

It’s not just you, insurance companies tend to try to lowball if and when possible. There are many reasons for this, including:

  • People accept them
    • A major reason that insurance companies continue to offer unfairly low settlements is that people continue to accept them. The average person is unaware of the extent of the law and what they are owed. Without the help of an attorney, people tend to accept offers not knowing they deserve a much higher compensation.
  • They are blaming the accident on you
    • If the company has decided you are at fault, they may refuse to offer coverage. Make sure that you present them with all relevant information and evidence to prove that the accident was not your fault.
  • Miscalculations
    • It is possible that the insurance provider did not receive all of the documents detailing the medical expenses, property damage, etc. If this happens then the formulas they typically use can be skewed.
  • They use AI (artificial intelligence)
    • Some insurance companies have transitioned to using AI software to calculate settlement costs. AI, however, is not equipped to factor in human aspects like costs of pain and suffering or specifics that are unique to your case. This can result in a lower compensation offer than you deserve.

Can A Lawyer Help With a Lowball Offer From an Insurance Company?

Your best line of defense when dealing with insurance companies will come in the form of a trusted attorney. It can be daunting taking on negotiations with a big company, especially if you are not familiar with the law or insurance settlement processes. A lawyer will have dealt with cases like yours before and have negotiated with insurance companies many times. They know the tricks and concerns to look out for and are educated on your rights.

When communicating with an attorney instead of the client, insurance companies tend to be more honest and straightforward because they know that the attorney is familiar with their tactics.

Evidence and documentation are paramount in any legal proceeding, including negotiations with an insurance company. Your lawyer will be able to locate, obtain, and organize the relevant data in a compelling and comprehensive manner that will allow the insurer to take into account the full extent of your damages and therefore compensate you accordingly.

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